KOSPI Cools Down... Falls 0.9% Below 2750 Level

[Asia Economy Reporter Oh Ju-yeon] The KOSPI has fallen below the 2750 level, showing weakness. Until now, the market has been rallying, reacting more sensitively to positive news than negative factors, but the sharp rise has led to concerns about valuation pressure.

According to the Korea Exchange on the 17th, as of 10:57 AM, the KOSPI recorded 2746.93, down 0.90% from the previous trading day. The KOSPI opened down 0.07% at 2769.89 compared to the previous day, and during the session, it seemed to rise to 2772.29. However, it later widened its losses and failed to surpass the 2750 level.

In the U.S. stock market the previous day, despite news that additional stimulus measures were nearing agreement, the market showed mixed trends in response to weak economic indicators.

The domestic stock market has already priced in positive news, favorable issues, and events during its continuous rise since November, so for further gains, either better-than-expected actual results or stronger positive news or issues are needed. However, since expectations have already been reflected, the current market is facing valuation pressure.

Lee Kyung-min, a researcher at Daishin Securities, said, "Global stock markets including the KOSPI have had a strong upward bias, but the short-term direction of financial markets can change anytime depending on changes in investor sentiment," adding, "Changes in supply and demand are also inevitable."

On this day, all of the top 15 KOSPI stocks by market capitalization declined. Samsung Electronics (-1.39%), LG Chem (-0.49%), Samsung Biologics (-0.74%) fell, while Hyundai Motor and Samsung SDI each dropped by 1%. Hyundai Mobis and POSCO fell by over 2%.

By supply and demand, foreigners and institutions sold 311.7 billion KRW and 118.7 billion KRW worth of stocks respectively, pulling the index down. In contrast, individuals bought 438.4 billion KRW worth of stocks, defending the index alone.

The KOSDAQ index rose 0.30% from the previous trading day to 942.48. The KOSDAQ index rose as much as 0.93% during the session but then the gains somewhat slowed.

Among the top market cap stocks, Celltrion Healthcare (1.01%), Celltrion Pharm (1.67%), and Seegene (2.66%) rose, while Alteogen (-0.34%) and Pearl Abyss (-2.48%) declined.

This content was produced with the assistance of AI translation services.